Small Business Owners Are Retiring…and Millennials May Not Fill The Gap on America ‘s Main Street

Shattering the mythology of the backpack toting digitally-empowered Millennial entrepreneur are the stats. It appears that today’s newer entrants to the economy are far less entrepreneurial than preceding generations. One reason might be because they are saddled with an unprecedented amount of student loan debt. Even when those loans are not crippling, they seem to lessen one’s inclination to take on the risk of starting a business. As a result, the ranks of young business owners are not growing in the way we might expect, especially when 60% of Millennials claim to be entrepreneurs, at least in spirit.